U.S. businesses cut 27,000 jobs in March, before virus hit
U.S. companies shed 27,000 jobs in March, according to a private survey, a figure that mostly reflected the economy as it stood before the full impact of the viral outbreak.
Payroll processor ADP said small businesses took the biggest hit, losing 90,000 jobs, while medium-sized and large companies still added workers. Economists forecast that much larger job losses, probably in the millions, will be reported in the coming months.
FILE - In this Tuesday, June 4, 2019, file photo, managers wait for job applicants at the Seminole Hard Rock Hotel & Casino Hollywood during a job fair in Hollywood, Fla. U.S. businesses added 183,000 jobs in Jan. 2020, a solid gain that shows the economy was largely healthy when the coronavirus outbreak spread further around the globe. Large companies added roughly two-thirds of the jobs, while hiring among smaller firms was relatively weak. Manufacturing and mining firms shed jobs, while hiring in health care and hotels and restaurants was strong. (AP PhotoWilfredo Lee, File)
FILE - In this Oct. 1, 2019, photo, Gory Rodriguez, of Starbucks, right, interviews a job applicant during a job fair at Dolphin Mall in Miami. On Wednesday, Jan. 8, 2020 payroll processor ADP reports on how many jobs its survey estimates U.S. companies added in December. (AP PhotoLynne Sladky, File)